India Glycols Share Price Jumps 5% on Partnership in Premium Alcobev Market

On November 13, 2024, India Glycols Ltd (IGL), a specialty chemicals producer, announced a partnership with Bangalore-based Amrut Distilleries for the manufacture, distribution, and sale of select Amrut brands in the premium segment across markets in North India.

Responsibilities and Roles in the Amrut-IGL Partnership

Amrut will supply and oversee the blend, ensuring that its approved vendors uphold the required quality standards for packaging materials supplied to IGL.

In return, IGL will focus on promoting the Amrut brands and ensuring they meet high-quality standards in both product composition and brand representation in northern markets.

India remains predominantly a brown spirits market, with whisky accounting for over 58% of Indian Made Foreign Liquor (IMFL) consumption, while rum and brandy also command a significant share.

Given Amrut’s strong portfolio of these premium products, India Glycols decided to partner with the House of Amrut for its entry into the premium market.

India Glycols Share Price Performance

On November 14, 2024, India Glycols share price traded 5.82% higher at ₹1,166.30 at 12:15 PM. It opened at ₹1,122.60 on NSE.

About India Glycols

India Glycols Limited (IGL) is a leading Indian manufacturer of specialty chemicals, industrial chemicals, and natural-based products. Established in 1983, the company operates in multiple sectors, including chemicals, textiles, FMCG, and renewable energy. IGL is known for producing ethylene glycol, glycol ethers, surfactants, and other specialty chemicals, with a strong focus on sustainability and green chemistry. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.